BuyBack guarantee in case of borrower's payments delay for more than 60 days

There is an agreement that SIA Primo Invest issues a loan to Norwegian Company under investment contract dated 07/03/2019 to finance the development project in Buvika, Norway. Money will be used to finance building 2 houses containing 5 apartments each.

The collateral of loan is the land, including the building.

In current project borrower is a general contractor, who obtained a right to build 2 3-floor apartment houses in Buvika, Norway with total area 1570 m2.

Project timeline:

Start of the foundation: March 2019

Start of supply elements: April 2019

External finishing and completion of project: April 2020

Additional Information

Norwegian company is a building contractor in Norway, whose team is a part of affiliated companies that have an extensive experience in construction industry, developing more than 180 building across Scandinavia, including multi-story apartment complexes, hotels, apartment buildings and dozens of private houses.

Property condition

All brand-new, turnkey design finishing

Building material

Timber

Number of houses

2

Number of apartments

10

Total Area of buildings

1570 sq.m. (2 houses, 10 apartments)

Total Area of land

3100 sq. m.

Address

Country: Norway

Town: Buvika

Region: Trondelag

Number of floors

3

Number of rooms per apartments

5

Year of completion

2020

DESCRIPTION

• General contractor has obtained a right to build 2 identical houses with 5 apartments each in the new neighborhood in Buvika, Norway;

• The townhouses are built for the future sale;

• Each townhouse will have 3 floors;

• Buvika is a small town in Norway, located 25-minute drive to the 3 rd largest city Trondheim. Trondheim has 196,000 inhabitants, which will rise to 210,000 by 2030;

• Buvika lies along E39 European route, which connects Norway with Denmark;

• Property has a convenient location: the bus stop is 400m away from the property, kindergarten is 3 min drive or 1km away from the property;